Jared Kushner and Ivanka Trump made around $110 million in just one year — on top of their massive net worth.

Money

How Ivanka made her millions

by Alexis Carey

17th Jun 2018 10:45 AM

THEY are one of the world's most powerful couples - and they've got the bank balance to prove it.

Earlier this week, the release of financial disclosure forms revealed US president Donald Trump's daughter Ivanka and her husband Jared Kushner made at least $US82 million last year alone - that's around $110 Australian dollars.

That immense sum was made while the pair were both serving as unpaid senior White House advisers in 2017, and it all came from "outside income".

Ms Trump added $AUD5.2 million to the family budget thanks to her share of the Trump International Hotel in Washington, and a further $2.6 million as part of a severance package after she resigned from the Trump Organisation.

She also earned more than $387,000 for her book, Women Who Work, although that sum was donated to her charity, the Ivanka M Trump Charitable Fund, to help women and girls.

Meanwhile, Mr Kushner received an income of more than $6.6 million from an apartment block owned by Kushner Companies, the real estate business founded by his father Charles Kushner.

He also earned money from dozens of different companies linked to Kushner Companies, bringing his total earnings for 2017 to at least $93,768,500 while his wife made more than $16 million, mostly from her clothing and accessories brand, which manufactures goods in various countries including Bangladesh, Indonesia, and China.

The power couple gave up day-to-day control over their various companies when they agreed to take up their unpaid roles with president Trump - a decision Mr Kushner's father famously described in a recent interview with The Real Deal as a hefty sacrifice.

"I look at what my kids have sacrificed to go into government, with the only intent of doing good for this country and for the world, and to help people," he told the publication.

"And what they have sacrificed, and the daily barrage of negative media, and the attacks they get, and they had a perfect, beautiful life and they still have a very good life, but they sacrificed a lot."

But the couple have faced significant criticism for some time regarding possible conflicts of interests between their political and business dealings.

Never before in US history has a president's blood relatives served as his advisers while making millions through their own private companies.

It's a troubling situation as it raises questions about possible corruption, as Ms Trump and Mr Kushner could be seen to be benefiting financially from Mr Trump's position, and their own high-profile White House roles.

In fact, in May it was revealed that the Chinese government had approved Ms Trump's brand's 13th trademark in just three months - something Noah Bookbinder, the executive director of Citizens for Responsibility and Ethics in Washington, told Whimn raised "significant questions about corruption".

"Ivanka Trump's refusal to divest from her business is especially troubling as the Ivanka brand continues to expand its business in foreign countries," he told the publication.

"It invites the possibility that she could be benefiting financially from her position and her father's presidency or that she could be influenced in her policy work by countries' treatment of her business."

Last year, there were reports Ms Trump's clothing and accessories brand was floundering, with Nordstrom ditching the label "based on the brand's performance", and department stores such as TJ Maxx removing items from in-store features and promotions due to backlash against the Trump name.

But despite that negative press, the sheer number of trademarks Ms Trump's brand has managed to snap up across a number of different countries are expected to be hugely lucrative.

In China alone, for example, the trademarks already granted to the brand will allow it to sell an unprecedented level of products, including everything from perfume and furniture to books and chocolate.

When you consider the couple's $110 million 2017 earnings, and their overall net worth, which the New York Times estimates to be up to $US811 million, suddenly their noble "sacrifice" to take up public office doesn't seen quite so painful.